1. No Profile Picture
Contributing User
Devshed Newbie (0 - 499 posts)

Join Date
Aug 2003
Posts
42
Rep Power
15

#### php mortgage calculator

Hello every one

I have a problem whit my project i must create a mortgage calculator with different and many functions i have did almost everythig except the part with "What Can I Borrow" an example you my see at this address http://www.rnrmortgageservices.com/.../qual_input.asp if anybody can help me please i reall need this even the formula on how the calcules are made it is great everything

Thank you all
2. Plenty of mortgage calculators exist already like these, why do you need to make another one? This sounds kind of like a h/w assignment...
Can't help with the programming, but the idea behind the "what you can afford" is that the house payment shouldn't exceed something like 28% of your gross income, and your total obligation (house, car, other monthly obligations) shouldn't exceed about 36% of your gross income. These numbers are maximums, pretty much. http://www.smartmoney.com/home/buyin...?story=howmuch has a calculator with all the factors broken down and explained so you can see how its done.
3. No Profile Picture
Contributing User
Devshed Newbie (0 - 499 posts)

Join Date
Aug 2003
Posts
42
Rep Power
15
Thanks

I will try to make a start from the links that you give me but i was looking for something more like this http://www.math.hawaii.edu/~hile/math100/consf.htm here you will finde the formula that i used to make the "monthly payment" calculator.
If anybody knows any help is wanted.
Thanks
4. Like I said before, I can't help you with the programming, but the stuff I gave you is plenty to make your algorithm. The only part you really need is the 28% of gross income part.
Prompt the user for their income. Once they put it in, find 28%, and divide it by 12 to get the maximum montly payment amount. Then simply solve for P (total principle) in the equation on the page you linked to. (The current equation solves for p(monthly payment) given P(total principle), you want to solve for P given p). Once you've done that math, just code it in the same way as you did for the other parts.
HTH
Dave
5. No Profile Picture
Contributing User
Devshed Newbie (0 - 499 posts)

Join Date
Aug 2003
Posts
42
Rep Power
15
Hy,

Thanks again you are kind enough to explain one more time, but you must understant i'm not looking for your programing help i'm looking just for the math i can do the program by my self very well but when it comes to research others legislation country i'm not very good so when it comes to loans for USA i walk in the deep dark.

I was expecting from this post something like the forumla in the link that i have supplied but i'm very pleased and with the answer that i have recived.

So thanks again and all best
6. No Profile Picture
Contributing User
Devshed Newbie (0 - 499 posts)

Join Date
Aug 2003
Posts
42
Rep Power
15
Thanks again

I just want to thank you again i just made it i have worked a coupe of hours but i finaly made the math and now i am gooing to make the algorithm and the coding i will finish in a few minutes if you want to see what you help me for i will send you the link of the site

Thanks again and all best if you need any help in programing somethimes don't hesitete to ask i will try to help you

Best Regardes,
Claudiu
8. No Profile Picture
Contributing User
Devshed Newbie (0 - 499 posts)

Join Date
Aug 2003
Posts
42
Rep Power
15
Hy,

here is the link http://www.homeliberty.com/calcloan.php there are 5 mortgage calculators the last one is the one that makes me problems

Thanks again and all best